SE Asia Stocks-Fall on oil shares; Thai cabinet reshuffle supports

jueves 20 de agosto de 2015 03:53 GYT

BANGKOK, Aug 20 (Reuters) - Southeast Asian stocks fell on
Thursday as worsening global oil prices hit energy-related
shares, with the Singapore and Malaysian benchmarks hitting
multi-month lows, while Vietnam dropped after its central bank
devalued the dong on Wednesday. 
    Singapore's key Straits Times Index shed 1.1
percent to 3,006.72, the lowest since February 2014, with shares
of Sembcorp Marine Ltd dropping 5.6 percent, the
biggest percentage loser.
    The Kuala Lumpur composite index was down 0.3
percent, slipping at one point to the lowest since June 2012.
The index's top losers included Sime Darby Bhd and
Petronas Dagangan Bhd.
    The Thai SET index retreated from highs hit on
Wednesday as top oil firm PTT plunged 4.8 percent amid
global oil weakness, with U.S. contracts hovering slightly above
$40 per barrel, levels not seen since the credit crunch of 2009.
    The SET plunged to a near 1-1/2-year low early in the week
as foreign investors sold shares after a deadly bomb blast in
central Bangkok. 
    Thailand's king formally endorsed a cabinet reshuffle on
Thursday that includes a new finance minister and a new deputy
premier overseeing the economy as the military government seeks
to spur flagging growth. 
    "Domestic plays, especially construction and material
sectors, should continue to outperform due to optimism on more
government economic packages after the cabinet reshuffle," said
broker KGI Securities in a report.
    In Asia, concerns about slowing growth in China overshadowed
positive news from the U.S. Federal Reserve's July meeting which
hinted that the timing of a rate hike has not been reached.
    Vietnam's benchmark VN Index was on track for a
second straight loss after the central bank devalued the dong
for the third time this year.  
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 Change at 0721 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3006.72       3041.25       -1.14
 Kuala Lumpur       1577.04       1582.44       -0.34
 Bangkok            1371.12       1379.12       -0.58
 Jakarta            4447.27       4484.24       -0.82
 Manila             7278.98       7344.73       -0.90
 Ho Chi Minh         567.95        577.82       -1.71
 (Reporting by Viparat Jantraprap; Editing by xxxx)